SLFMIS CONTENT FOR MoF WEBSITE
The Somaliland Financial Management Information System (SLFMIS) is a bespoke integrated suite of financial management modules whose objective is to provide a modern software platform that enables the automation of the PFM cycle from budgeting through expenditure and accounting, to reporting, with adequate accountability and oversight on the utilization of public finances.
Ever since the commencement of the SLFMIS implementation of the SLFMIS in 2017 it has been vertically and horizontally deepened in a phased approach, with the following key modules so far implemented:
- Budgeting for budget preparation and control;
- Purchasing for management of procurements through requisitioning and purchase order processing;
- For management of Government stores;
- Expenditure for processing of payment to suppliers and employee expenses;
- Payroll module for processing and management of the public service payroll; Currently the public service payroll of 32,000 employees is processed through the payroll module;
- Revenue for collection and management of tax and non-tax revenue;
- Treasury Management for payment disbursements and checking;
- Financial Reporting for statutory, management and donor reporting and compliance with IPSAS;
- Fixed Assets which is used to capture fixed assets details; and
- Debt Management used for recording and tracking the repayment of domestic arrears.
The SLFMIS was piloted and has so far been rolled out to 59 MDAs and 15 regions.
The following are the current and expected benefits of the SLFMIS to the Government of Somaliland:
- Accuracy and efficiency of transaction processing;
- Improved transparency and accountability on collection and utilization of public funds;
- Efficient domestic revenue collection and reporting;
- Expected reduction in costs of information capture and storage through paperless transaction processing;
- Accurate and timely financial reporting for decision making;
- Increased budget discipline for government spending;
- Reduction and eventual elimination of domestic arrears through commitment control and therefore improved public confidence in Government;
- Improved cash management to be achieved through Treasury Single Account
- Improved cash forecasting;
- Improvement of Government image to attract Foreign Direct Investments and more donor funding;
- Improvement of standard of life for Somaliland citizens; and
- Improved health safety against COVID-19 to be realized from the paperless transaction processing.